SAN FRANCISCO--(BUSINESS WIRE)--Uphold,
a leading global digital money platform that has powered more than $3
billion in transactions across 184 countries, has reached an agreement
to acquire New York Stock Exchange member JNK Securities Corp.
Concurrently, Uphold and JNK have filed an application with the
Financial Industry Regulatory Authority (FINRA) for the approval of the
change of ownership and business expansion. Upon FINRA approval, Uphold
will file a Form ATS with the U.S. Securities and Exchange Commission
(SEC) and can begin operating an alternative trading system (ATS).

If the application is approved, the extension of the broker-dealer
registration will encompass Uphold’s securities and security-token
business and expand the company’s compliance footprint, customer base
and service offering. The acquisition will also offer JNK clients access
to all of Uphold’s crypto to fiat trading pairs and assets, introducing
Uphold’s platform to a new group of institutional investors.

“We have kept a close eye on statements from global regulators regarding
virtual currencies and tokens and believe that many crypto assets
(particularly ICO tokens) may be treated as securities in some cases,”
said Adrian Steckel, CEO of Uphold. “Broker-dealer and ATS coverage is
key to protecting our customers and to building a preeminent financial
services ecosystem. We are proud to be a compliant financial services
company, working with regulators to ensure we provide the most trusted
and transparent access to digital financial services worldwide.”

Through Uphold’s new securities division, the digital currency platform
would be able to offer sales and trading of ICO tokens and fractional
equities and provide other exchange services, under the oversight of the
SEC and FINRA.

“In its 25-year history, JNK has continued to evolve with the financial
markets. We are excited to become part of Uphold’s vision for the future
of digital capital formation, while continuing to offer our acclaimed
industry research to our institutional customers,” said Scott Kaplan,
CEO of JNK Securities Corp.

With the acquisition of JNK, Uphold is enhancing its compliance and
regulatory policies and practices. Uphold is continuing to create a
trusted digital currency platform that gives investors tools to manage
crypto volatility by offering secure and affordable transfers into fiat
currencies.

About Uphold

Uphold is the creator of an open, trusted and transparent digital money
platform that lets you quickly and safely access traditional currencies,
cryptocurrencies, and other investments all in one place. Uphold has
powered more than $3 billion in transactions across 184 countries, in
more than 30 supported currencies and four commodities.

The Uphold platform provides access to a wide range of currencies and
investments available in one place, with transparency and security.
Uphold is the only company to publish real-time reserve holdings,
providing its members with the necessary information to make informed
decisions. Uphold has global operations in Braga, London, Los Angeles,
Mexico City, and San Francisco. More information can be found at www.uphold.com,
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